need to fix up sales tax account in 2005 Pro

Looking at the register for "other current liability" "sales tax payable", I see only an increasing balance, although I made a payment last year. I think I didn't use the "pay sales tax" menu item (didn't know it was there at the time), but I show a check with an expense to the account in question. So shouldn't there be a corresponding payment in the "sales tax payable"?

Anyone willing to help me fix it up?

I suppose I need to find out where the money from the check came from, and how to transfer the amount from "sales tax payable".

Reply to
Phil Nelson
Loading thread data ...

You will need to delete these checks and reissue them using the "pay sales tax" tool as QB does not recognize regular checks written against the liabilities. The other problem might be the account you used on the checks was for an expense account instead of the liability account.

First locate those payments. Make sure the sum of them matches your balance in the sales tax payable account. Write down dates, check numbers, etc. Delete the incorrect ones and redo them properly.

Reply to
Laura

Fortunately, there is only one payment (fairly new business, paying yearly). I will look at the help to find a way to delete the check, I only saw a "void" option in the context menu. My first plan was to delete the check, then run the "pay sales tax", re-writing the check with the same date and number (to match the check already written). When I couldn't see how to delete the check, my plan b was to make a register entry to move the money from wherever it is to the sales tax account. But first I have to find out where it is.

Or use another plan recommended by someone more experienced than I.

Reply to
Philip Nelson

That's the answer.

Ctrl-Delete

Ctrl-F for the "Find" menu, Advanced Find Tab - Amount, then enter the amount of the check.

There are quite a few ways to find something, but this will work.

Reply to
Joanne

OK, actually I found ^D first, which seemed to work. I was then able to recreate the check with the same date and amount (after making some adjustments- I now have an additional check in the amount of $13 and change for taxes I think were owed but not paid prior to 2006, which I am not sure what to do with and probably shouldn't mention here, and a new account called "sales tax adj." which I created to hold the $0.84 that my tax guy told me last year didn't matter, but now had to go somewhere so QB would recreate the check in the same amount).

I hope that will work, and thanks for the help!

Reply to
Philip Nelson

Another method is to run a quick report on the vendor that you wrote the check to.

FYI--select the transaction from the appropriate register and select EDIT TRANSACTION at the top of the register. Once the transaction is displayed select Edit. Here you will find numerous options-delete, void being 2 common choices.

Reply to
Laura

Thanks. I will try that next time this sort of thing comes up (if I don't forget first).

One more question, if you don't mind- It turns out that I have two accounts- "Sales Tax Payable" and "*Sales Tax Payable". I think that is because I originally added a "Sales Tax Payable" account manually before I found out that the function was built in (had to be enabled, if I recall).

I looked over the two invoices that were listed in the manually created account, it turns out there are only a couple of items and they are in error, so I was able to zero the account by issuing credit memos to my customers.

I then renamed the account "Sales Tax Payable (extra)" and made it "inactive", now I want to rename "*Sales Tax Payable" to "Sales Tax Payable", but I wonder if QB's sales tax function will lose track of the account if I do? I can test that, I suppose, but maybe someone would like to advise me?

BTW, has everyone done their backups? I have, plus many extras with names like: "Q20070305temp.QBB". My accounts would likely be a pile of junk by now if I hadn't.

Reply to
Phil Nelson

You can change the name in the CoA and the sales tax module will be updated with the new name. I tested it on one of my dummy company files and it worked fine. All I did was to open up the CoA, selected edit on the STP account and modified the name. I went directly to Pay Sales tax and could see the amount that is sitting on the balance sheet in the PST window. I also can see the change to the sales tax items in the Item list. I think it was sucessful on my test.

Just make a backup before making the change if you have concerns that it won't work.

I have numerous backups. I go through periodically and delete the extras. I'm always afraid that I will restore the wrong backup file.

Reply to
Laura

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.